Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement Act of Dominica
The Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement Act, 2025 is legislation passed by the Parliament of Dominica to give effect to the Agreement Establishing the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA). It aligns Dominica with Antigua & Barbuda, Grenada, Saint Lucia, and Saint Kitts & Nevis in creating a supranational body to regulate, supervise, and harmonize Citizenship by Investment (CBI) programmes across the Eastern Caribbean Currency Union.
Scope and Provisions
The Act formally incorporates the ECCIRA Agreement into Dominican law. Its provisions are expected to:
- Establish ECCIRA as a legal entity with powers to regulate, supervise, and enforce standards across CBI programmes.
- Require due diligence standards, uniform vetting procedures, and shared information databases for all applicants.
- Introduce a 30-day residency requirement within the first five years for new economic citizens.
- Mandate annual approval caps to control programme volume and maintain international credibility.
- Provide for passport validity of five years on first issue, renewable for ten years subject to compliance.
- Grant ECCIRA powers to investigate, sanction, or revoke citizenship in cases of fraud, misrepresentation, or security risks.
- Require quarterly and annual reporting to participating governments and parliaments.
- Ensure investment funds are held in approved escrow accounts pending due diligence clearance.
Purpose and Implications
The Act seeks to protect the integrity of Dominica’s CBI Programme by embedding it within a regional compliance system. It reflects commitments made in the March 2024 Memorandum of Agreement among the five CBI states and responds to international concerns over transparency, money laundering, and security risks. By enacting the legislation, Dominica strengthens its CBI framework while ceding some programme oversight to a shared regional authority.
